United Microelectronics Corp (NYSE:UMC) was downgraded by Daiwa Capital Markets from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.

Analyst Recommendations for United Microelectronics Corp (NYSE:UMC)

United Microelectronics Corp (NYSE:UMC) traded up 0.54% on Wednesday, reaching $1.86. The company’s stock had a trading volume of 318,367 shares. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 20.67 and a beta of 1.10. United Microelectronics Corp has a 52-week low of $1.60 and a 52-week high of $2.14. The firm’s 50-day moving average price is $1.88 and its 200-day moving average price is $1.94.

United Microelectronics Corp (NYSE:UMC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 EPS for the quarter. On average, equities analysts expect that United Microelectronics Corp will post $0.10 earnings per share for the current year.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/united-microelectronics-corp-umc-downgraded-by-daiwa-capital-markets-to-hold.html

Several hedge funds and other institutional investors have recently made changes to their positions in UMC. Bank of New York Mellon Corp boosted its position in shares of United Microelectronics Corp by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 41,100,054 shares of the company’s stock worth $81,789,000 after buying an additional 6,766,798 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of United Microelectronics Corp by 4.1% in the second quarter. Vanguard Group Inc. now owns 28,200,587 shares of the company’s stock worth $56,119,000 after buying an additional 1,103,516 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of United Microelectronics Corp by 17.5% in the first quarter. Renaissance Technologies LLC now owns 5,463,900 shares of the company’s stock worth $11,365,000 after buying an additional 815,414 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of United Microelectronics Corp during the second quarter worth approximately $8,127,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of United Microelectronics Corp by 2.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,781,770 shares of the company’s stock worth $3,546,000 after buying an additional 40,514 shares during the last quarter.

United Microelectronics Corp Company Profile

United Microelectronics Corporation is a global semiconductor foundry that provides technology and manufacturing for applications spanning various sectors of the integrated circuit (IC) industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.

5 Day Chart for NYSE:UMC

The Fly

Receive News & Ratings for United Microelectronics Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics Corp and related companies with MarketBeat.com's FREE daily email newsletter.